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Pembridge Resources books revenues of US$12.4mln and losses of US$13mln

The Minto mine has now been restarted and is producing copper

Pembridge Resources PLC -

Pembridge Resources PLC (LSE: PERE) booked a loss of US$13mln in the year to December 2019.

That loss included a US$6.4mln charge which reflected costs of re-starting operations at the Minto copper mine in Canada during the period. 

"The financial results for 2019 reflect the investment made and costs incurred to acquire and restart the Minto mine,” said Gati Al-Jebouri, chief executive of Pembridge.

“Having achieved this successfully, I am pleased that we are in a position to face the challenges in front of us as well as grow the business. Although showing a loss for 2019, it is encouraging to be able to show the company generating revenues from operations in the consolidated financial statements.” 

Revenues for the period amounted to US$12.4mln.

Quick facts: Pembridge Resources PLC

Price: 3.75 GBX

LSE:PERE
Market: LSE
Market Cap: £2.79 m
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